Titanium Metals Corp. has entered a new long-term titanium supply agreement with The Boeing Co.
The agreement will be effective from Jan. 1, 2011 to Dec. 31, 2015. As part of the new agreement, Boeing and TIMET amended the terms of their existing supply agreement, which will expire on Dec. 31, 2010.
The new agreement provides for mutual annual purchase and supply commitments, the extension of the global titanium scrap recycling program and the use of the TIMET Global Service Center Network, among other things.
Financial details of the agreement were not disclosed.